Kalamazoo Real Estate

Top 5 Remodeling Items For Big Returns 2011

2011-06-07T11:12:00.000-04:00

How We Get the Numbers

Construction cost estimates are generated by HomeTech Information Systems (www.hometechonline.com) of Bethesda, Md., which takes into account construction commodity data and labor cost information from a nationwide network of remodeling contractors. The company prepares a detailed construction estimate for each project and then adjusts this baseline cost for each city to account for regional pricing variations. However, project costs are based on estimates for hypothetical projects, with no reliable way to accommodate local and short-term fluctuations in supply and demand. Resale value data for each project are aggregated from estimates provided by REALTORS®. E-mail surveys were sent to some 150,000 appraisers, sales agents, and brokers in the summer of 2010, and more than 3,000 participated. Respondents were instructed not to make judgments about the motivation of the home owner in the decision to undertake the remodeling project or to sell the house.

Using the Data

The Cost vs. Value Report provides an accurate snapshot of the national housing market, but it can’t be applied accurately to an individual remodeling project for a particular address. Resale value is one factor among many that a home owner must take into account when making the decision to remodel. Although the costs used in the report are based on itemized estimates, the projects are hypothetical. When comparing the data to actual remodeling costs in your area, small differences in the scope of a project or quality of finishes and accessories can dramatically affect the price. Although the distinction between "midrange" and "upscale" projects provides a range of pricing, it can’t account for extreme variations in pricing that many markets experienced in 2010.

2010-11 Trends

Slumping home values pulled the overall cost-to-value ratio down to its lowest level this decade, extending the downward trend that began in 2006. In fact, the slide from 63.8 percent to 60.0 percent in costs recouped is a slightly greater than last year’s 3.5-point drop. Projects were more affordable to complete, with construction costs down 10.4 percent overall, but those lower costs were overmatched by a 15.8 percent drop in estimated resale values, the biggest decline in the last eight years.

TOP 5: First Impressions Matter

Looking to convince dubious sellers that smart upgrades are worth it? This year’s Cost vs. Value Report, by Remodeling magazine, provides ample support. The annual survey uses input from REALTORS® in 80 cities to rank home remodeling projects according to those that bring the greatest cost recovered at resale. And looking at the five projects that topped the list, it’s clear that first impressions really do matter when sellers list their home.

Big-bang projects can make or break a sale from the moment potential buyers exit their car. A midrange entry door replacement brings the highest payback at a national average of 102.1 percent, followed by a midrange garage door replacement, at 83.9 percent, and an upscale redo of the siding at 80 percent of the cost. Step into the home, and a midrange kitchen remodel recoups an average 72.8 percent. Gaze into the backyard, where a wood deck addition also generates a 72.8 percent return.

Also noteworthy in this slow-growing economy is that four of the top five projects are "midrange" projects aimed at budget-conscious sellers. If sellers still balk at the price tag, take note of our tips for completing the projects on a tidy budget.

PROJECT 1: Entry Door Replacement (Steel)

Cost $1,218
Resale value $1,243
Cost recouped 102.1%
National averages

What this project entails: Remove an existing 3-foot-by-6-foot-8-inch entry door and jambs and replace it with a new 20-gauge steel unit, including a clear dual-pane half-glass panel, jambs, and an aluminum threshold with a composite stop. The door is factory finished with the same color on both sides. Exterior brick-mold and 2.5-inch interior colonial or ranch casings in poplar or an equal choice are prefinished to match the door color. Replace the existing lock set with a new bored lock with a brass or antique brass finish.
A new entry door can make a big splash, but only if it complements the style of the house. "The biggest mistake people make is to choose a door that doesn’t match the neighborhood or home," says Donnie Worley, broker at RE/MAX Real Estate Service in Sanford, N.C. "You won’t recoup the money at resale, and it might look funny. For high-end homes, leaded glass may be appropriate. But in a more moderately priced home, a regular steel door painted in a color that complements the home’s trim will make a bigger impact."

Sellers can get their money’s worth with online research before a purchase, says Peter McCluskey, owner of McCluskey Construction, Realty, and Loans in San Francisco. "Identify the type of steel, whether the door has been primed with a rust inhibitor, how many coats of finish paint have been added, and whether it’s insulated and if so with what insulation rating," McCluskey says. "An alternative to finish paint is powder coating. It’s more like glue than paint and generally better than nonpowder coating."

Finally, thoroughly inspect the door before buying and installing it. "Steel doors can dent easily, and you can’t fix dents," says Taylor Joe Goldsmith, vice president of marketing and sales at Joe Goldsmith Construction Inc. in Lakeland, Fla. "Make sure the door is in good condition before you purchase it."

Replacement projects have always performed better in resale value than other types of remodeling projects, partly because they’re among the least expensive.

PROJECT 2: Garage Door Replacement

Cost $1,291
Resale value $1,083
Cost recouped 83.9%
National averages

What this project entails: Remove and dispose of the existing 16-by-7-foot garage door and tracks. Install a new 4-section garage door on new galvanized steel tracks; reuse the existing motorized opener. The new door is uninsulated, single-layer, embossed steel with two coats of baked-on paint, galvanized steel hinges, and nylon rollers. 10-year limited warranty.

Home owners should be careful when choosing a garage door because it’s easy to buy a more expensive product than what’s necessary. In many cases, a basic door will do the job, McCluskey says. "There are a few standard garage doors priced around $600, and installed they might be twice that," he says. "If you want something that looks like a carriage door, expect to pay three times as much."

Sellers should also consider how potential buyers might use the garage. A selling point for garage tinkerers might be windows or upgraded insulation. "Lots of people don’t even park vehicles in their garage but instead use it as their workshop," says Goldsmith. "In the winter, an insulated door will knock the edge off of the cold and will also keep the garage cool in the summer."

Windows allow in natural light. "That’s pretty important and often overlooked," McCluskey says. "Windows aren’t typically a large extra expense, costing about $100 extra. But they make an enormous difference in the usability of your garage. If it’s dark inside, you can’t do anything without opening the door."

Another potential selling point is a belt-driven garage door opener, which costs about $100 more than a chain-driven model. "A chain drive is really noisy," McCluskey says. "With a belt, you can hardly hear the door move."

This project is a new addition for the 2010–11 report, in recognition that curb appeal continues to play a strong role in a home’s resale value.

PROJECT 3: Siding Replacement

(Fiber Cement)
Cost $13,382
Resale value $10,707
Cost recouped 80.0%
National averages

What this project entails: Replace 1,250 square feet of existing siding with new fiber-cement siding, factory primed and factory painted. Include all 4/4 (1-inch) and 5/4 (1.25-inch) trim using either fiber-cement boards or cellular PVC.

"Siding materials can vary widely, so home owners should be sure they’re getting actual cement siding, rather than pressboard or other composite materials," says McCluskey. "Look on the Internet at the specifications on the various cement siding products. There are no standard materials, so you have to know what materials are being used so you can compare apples to apples."

Home owners should also ask siding contractors how much of an overlap, called the "lap," there will be on each board. "This is one of these ‘duh’ things," says Goldsmith. "I live in a historic district, and I’ve seen homes in which the lap is three inches, which gives siding a wood look, instead of the maximum lap of six inches. Those home owners are wasting materials. Ask how big a lap contractors will use and whether it would save on materials and lower the cost to increase the lap."

Finally, home owners should consider prepainted siding, which they can then tout to potential buyers. "That can save home owners money," says McCluskey. "They won’t have to have the siding repainted every few years."

Since it was added to the survey in 2005, fiber-cement siding replacement has ranked first among projects costing $5,000 or more.

PROJECT 4: Kitchen Remodel (Minor)

Cost $21,695
Resale value $15,790
Cost recouped 72.8%
National averages

What this project entails: In a functional but dated 200-square-foot kitchen with 30 linear feet of cabinetry and countertops, leave cabinet boxes in place but replace the fronts with new raised-panel wood doors and drawers, including new hardware. Replace the wall oven and cooktop with new energy-efficient models. Replace laminate countertops; install a mid-priced sink and faucet. Repaint the trim, add wall covering, and remove and replace resilient flooring.

"Too often, home owners overimprove their kitchen," says Adam Bosworth, a sales associate at Peggy Parker Real Estate LLC in Norwich, N.Y. "That’s not cost-effective unless they’ll stay in the house a long time."

To save a good chunk of money on a kitchen remodel, keep your existing electrical wiring and plumbing in place, Bosworth says.

Another idea: Considering painting your cabinets instead of buying new ones, advises Jude Herr, broker-owner of Boulder Area Realty in Boulder, Colo. And while many home owners opt for laminate flooring that resembles wood, Herr says ceramic tile is a smarter option. "With a laminate, you may get a negative reaction," she says. "You can buy nice ceramic tile for the same amount of money as wood laminates."

However, do consider a laminate countertop. "The most cost-effective way to give a kitchen a better look is with a laminate," says Jeff Carbone, a general contractor and sales associate at Coldwell Banker Premiere, REALTORS®, in Southington, Conn. "The selections today are very impressive, with many mimicking quite well the look of marble, granite, or other natural stones."

Finally, to save money, do some of the work yourself. For example, tell your contractor that you’ll remove the cabinets, advises Bosworth. "Ask your contractor to let you know when he’s done with the drywall," adds Herr. "Then do the painting yourself before cabinets are installed, patching nail holes or scratch marks later. That will save you the cost of painting, and it’s easier than painting afterward, when you have to work around the cabinets."

The minor kitchen remodel may carry a high price tag, but it’s a relatively inexpensive face-lift to what many buyers consider the most important room in the home.

PROJECT 5: Deck Addition (Wood)

Cost $10,973
Resale value $7,986
Cost recouped 72.8%
National averages

What this project entails: Add a 16-by-20-foot deck using pressure-treated joists supported by 4-by-4-foot posts anchored to concrete piers. Install pressure-treated deck boards in a simple linear pattern. Include a built-in bench and planter of the same decking material. Include stairs, assuming three steps to grade. Provide a complete railing system using pressure-treated wood posts, railings, and balusters.

A new wood deck can look stunning, but if not done correctly it could turn into a drawback to buyers. Home owners should also be sure a new deck isn’t too big or small. "Home owners can add an 8-by-8-foot wood deck, but it’s so small the space seems useless," says Bosworth. "Or they can put on a deck that spans the length of the home. That’s great for entertaining, but they’ll never recoup the cost."

Bosworth also recommends that sellers who need to save money choose a contractor who’ll let them do some of the work. "Have the footings poured by a professional and maybe the frame put together by one, too," he says. "But anybody who knows how to use a screw gun can put in the floorboards and railings."

Adding a natural stain can be a final selling point. "I hear constant complaints from home owners about having to stain the deck every year," says Bosworth. "Colored stains like darker browns and reds wear very unevenly. Natural stains wear more evenly."

Before any work begins on the new deck, make sure that permits are in place. "Home owners should check with their local code enforcement department," Worley says. "People who work [in the department] will often give them free advice to help owners avoid mistakes. They may even provide copies of building codes so home owners can be sure railings are the correct height and vertical slats aren’t too far apart or close together, potentially dangerous for children or pets."

This project is considered essential rather than discretionary in many markets, particularly in neighborhoods where every home has an outdoor living space.

This article is from REALTOR(®) Magazine and was written by G.M.Filisko

Fire Safety Around the House

2011-05-09T09:18:00.000-04:00

RISMEDIA, May 9, 2011—Every year home electrical problems cause more than 28,000 house fires and massive property damage. Electrical wiring is the root cause of many of these fires, of which countless could have been prevented. May is Electrical Safety Month. MXenergy, an independent energy provider, is encouraging everyone to review key electrical safety tips.
“Quite frankly, electrical safety is a key home safety component that is often overlooked,” says Marjorie Kass, MXenergy Managing Director. “Yet the truth is, it is an essential element of any home safety plan. Proper education, awareness and action can go a long way in preventing tragedy.”
Faulty or fixed wiring or improper use of electrical cords and other electrical items cause most home fires.
MXenergy Electrical Safety Tips
• Pay Attention: Flickering lights, buzzing noises, and faceplates that are warm to the touch are all signs that a circuit may be overloaded or wiring may be wearing thin. Each one of those signs is cause for immediate attention from a licensed professional electrician.
• Listen to Your Breaker: If you are continually tripping a switch and having to reset your breaker box, your house is trying to tell you something. There may be a fixture with faulty wiring or too high an electrical load on the breaker. Again, seek professional help.
• Review and Replace: Frayed electrical cords, wobbly ceiling fans, and loose faceplates are more than mere annoyances. You should routinely inspect your home and replace or repair items in need of attention.
• Safety First: Even the best preparation and newest equipment is not a guaranteed protection against fire. Working smoke detectors on all levels of your home is an absolute must. Make sure you have a working fire extinguisher and you know the proper way to use it.
“The good news is many of these fires are avoidable,” continues Kass. “In the case of electrical safety just a little awareness and preparation can make an enormous difference.”
The Electrical Safety Foundation International (ESFI) sponsors Electrical Safety Month each May. More information and safety tips, including a home safety calendar, can be found at www.esfi.org.
For more information MXenergy please visit http://www.mxenergy.com/.

Five Things Buyers Can Do That Turn Sellers Off & Kill Deals

2011-04-12T09:30:00.000-04:00

Here is a great article alerting sellers what to expect in todays market.

By Tara-Nicholle Nelson | Broker in San Francisco, CA

..5 Things Home Buyers Do That Turn Sellers Off (and Kill Deals)

On today’s market, every savvy seller wants to know what turns buyers off, so they can get their homes sold as quickly as possible, for as much as possible. But buyers, take note – there is a minefield of seller turn-offs you can trigger that hold the potential to keep you from getting the home you want at the best price and terms, or to unnecessarily complicate dealings with your home’s seller.

Lest you think all of today’s sellers are under the gun and will just put up with whatever behavior buyers dish out, be aware that there are still many multiple offer situations in which buyers have to compete with each other to get a home – buyers who trigger these turnoffs tend to lose in those scenarios. Also, avoiding these seller turnoffs can create a transactional environment of cooperation and avoid things turning adversarial. That, in turn, can empower you to score a better price, get extra items you want thrown into the deal, and even negotiate more flexibility around your escrow and move-in timelines – all perks that can make your life easier and your budget go further.

For sellers, these turnoffs pose the potential of irritating you out of an otherwise good deal – maybe even the only deal you have!

Here’s a few of the most common buyer-perpetuated seller turnoffs, with tips for sellers on how to keep an emotional (and economic) even keel, even if your home’s buyer makes some of these waves:

1. Trash-talking. Trash-talkers are the home buyers who think they’re going to negotiate the list price down by slamming the house, telling the sellers how little it is really worth, how the house across the street sold for nothing, why the school on the corner should make them desperate to give the place away, etc. This strategy never works; in fact, when you attack a seller and their home, you only cause them to be defensive, and think up all the reasons that (a) their home is not what you say it is, and (b) they shouldn’t sell their home to you!

Sometimes this happens with buyers who actually love a house and just walk around it fantasizing about all the ways they would customize it to their tastes while a seller is there. Sellers: avoid being at home while your home is being shown. Buyers: save your commentary for your agent; if you do encounter the seller in person keep your conversation respectful and avoid critiquing the house or the list price.

2. Being unqualified for mortgage financing. When a seller signs a buyer’s offer, most often the seller agrees to effectively pull the home off the market, forgoing other buyers who might be interested. As such, the only thing worse than getting no offers on your home is getting an offer, getting into contract, then having the whole thing fall apart when the buyer’s loan falls through – especially if that could have been predicted or avoided up front.

Sellers: Work with your agent to vet your home’s buyers’ qualifications, including their loan approval, down payment and earnest money deposit – before you sign a contract. It’s not overkill for your agent to call the buyers’ mortgage pro before you sign the contract and get a level of comfort for how robust their qualifications are. Buyers: Get pre-approved. Seriously. And make sure that you don’t buy a car, quit your job, deposit lottery winnings or do any other financial twitchery between the time you get loan approval and the time you close escrow on your home.

3. Making unjustified lowball offers. No one likes to feel like they are being taken advantage of. And sellers generally know the ballpark amount that their home is worth, as well as what they need to sell it for to get their mortgage paid off. Yes – the price you pay for a home should be driven by its fair market value, rather than the seller’s financial needs, and deals are more available in a market like the current one, in which supply so vastly outpaces demand. But just throwing uber-lowball offers out at sellers hoping one will hit the spot is not generally a successful strategy, especially if you really, really want a given property.

Sellers: Don’t get overly emotional about receiving a lowball offer; counter at the price you and your agent decide makes sense based on the total circumstances, including your motivation level, recent comps and the interest/activity level your listing is receiving. Buyers: Work through the similar, nearby homes that have recently sold (a/k/a comparables) before you make an offer to factor the home’s fair market value into your offer price – also factor in how much you want the place, too. Don’t be amazed if you make an offer far below asking, and don’t get a response.

4. Renegotiating mid-stream. Sellers plan their finances, moves and - to some extent – their lives around the purchase price a buyer agrees to pay for their home. If you get into contract to buy a home, find out during inspections that costly repairs need to be made, then propose a lower sale price, repair credit or even actual repairs to the seller, that’s sensible and fair. But if you were aware that the property needed a lot of work before you made an offer on it, then you come back asking for beaucoup bucks’ worth of credit or price reductions midstream, expect the seller to cry foul. And holding the seller up two weeks into the transaction because you caught a case of buyer's remorse? Not cool, and not likely to foster the spirit of cooperation you may need to get your deal closed.

Sellers: avoid mid-stream price renegotiations by having a full set of inspection reports and repair bids at hand when you list your home. Buyers: try to avoid renegotiating the entire deal unless you get some major surprises at your inspections or inflating small repairs to try to justify a major price cut.

5. Misleading or setting the seller up. Remember when we talked about buyer turn-offs? Being misled by listing photos or very fluffy property descriptions was high on the list. The same goes for sellers.Offering way over asking with the plan to hammer the seller for a reduction when the house doesn’t appraise at the purchase price? #LAME Making an as-is offer planning the whole time to come back and ask for every penny ante repair called out by the inspectors? Lame squared.

Sellers: If you get multiple offers and are tempted to take a sky-high one or one that claims to be all cash, consider requesting proof that the buyer has sufficient funds to make up the difference between what you think the home will appraise for and the actual sale price, and statements showing the cash truly exists. Buyers: Don’t be lame. I’m not saying you have to tell the seller exactly what your top dollar is, but making offers with terms designed to intentionally mislead is really, really bad form – and can result in losing the home entirely if and when your bluff gets called.

You And Your Home: Aging Gracefully Together

2011-03-23T14:34:00.000-04:00

You and your home: Aging gracefully together
(ARA) - Aging gracefully is all about taking a proactive approach to your future well-being - you anticipate the inevitable changes and do what's necessary to stay healthy and fit.

The same principles are true for your home. You need to assess the necessary changes that must be made around your home to keep it fit, and you safe, so you and your home can successfully age together.

Helping your home age gracefully doesn't mean adding industrial-looking apparatuses throughout the house. In fact, with Lowe's Accessible Home program, you'll never have to sacrifice style for function. Plus, if you do these projects proactively, you'll save money in the long run.

Julie Sussman and Stephanie Glakas-Tenet, authors of the national bestselling "Dare to Repair" series of books, have teamed with Lowe's to provide you with some can-do projects to make your home more accessible for everyday living.

* Safety in a shower/tub -- A handheld shower unit is a perfect solution for anyone who has to sit while showering. Use a plumber's wrench or an adjustable wrench to remove the old shower head; if difficult to remove, apply lubricating spray. Remove any residue from threads on shower arm. Apply Teflon tape to threads, wrapping it counterclockwise, three or four times. Place hose of new shower unit onto end of shower arm, turning it clockwise. Insert hand shower into the shower arm mount, rotating it to desired spot. Use adjustable wrench to tighten. Handheld shower units now come in a variety of finishes and sizes sure to spruce up anyone's shower.

* Getting a better handle on knobs - For anyone who suffers from arthritis, a lever handle is much easier on the joints than a knob. Plus, lever handles can dress up the plainest of doors. Use a screwdriver to remove the screws on the old doorknob. Insert stems of exterior lever horizontally into the holes in the latch case. Place interior lever on the protruding spindle, aligning stems with screw holes. Insert screws and tighten with screwdriver.

* Avoiding slips - If you can't bear the sight of a bare floor and don't want to remove the beautiful rugs in your home, you must properly secure all of them. All rugs, including doormats, should be secured to the floor with non-skid tape. First, make sure floor surface is clean and dry. Attach tape to underside of rug, flip it over and adhere to floor. Don't forget the bathroom rug.

* Preventing falls - A stair handrail is designed to aid in ascending and descending stairs. But, why stop at having only one handrail per stairway? Make each stairway more symmetrical and safe by having a second one installed. Also, be sure to check all handrails in the home for any that wiggle. Use a screwdriver to tighten any loose screws. Make sure there is adequate lighting at the top and bottom of each staircase. Lowe's has a vast variety of lighting in stock to fit all your needs.

* Providing stability - Today's shower grab bar is not your father's (or hospital's) grab bar. The choices in style, size, color and installation will make you wonder why you waited this long to have one. To install a grab bar, you'll need a drill, the proper drill bits and the right grab bar. It's easy to install, just be sure to follow the manufacturer's instructions completely.

For more information about available products and services visit http://www.lowes.com/cd_all+access_133799062_accessiblehome?cm_mmc=vanity_program-_-accessiblehome-_-l-_-l. Follow Dare to Repair at http://www.daretorepair.com/, Facebook and Twitter.

Tips for a Buyer's Market

2011-03-09T16:40:00.000-05:00

Welcome to the elusive but profitable condition known as a buyer's market, and we really are in the midst of it in the State of Michigan. Too many homes listed, too many in foreclosure = a great time to buy.
In our area check the length of time a home has been on the market and you will find generally it is over a 3 month time period. People just don't list their house now to test the water - they HAVE to sell. Chances are, if you're looking to buy, you have been pre approved and you have some money to put down --you're in the driver's seat right now.
Here are some tips for making the most of the current buyer's market

1.Take a leisurely look. In a slow market, you don't have to jump on the first property you like. Look at as many as you can; you're likely to notice which ones have lingered on the market and therefore might be open to a price reduction.
2.Investigate the foreclosure market. These homes now sit empty and can be had at bargain prices. But beware ads and Web sites that promote investing in foreclosed properties; these can be shady. Realize that most are sold as is, where is and you as a buyer must do all the investigating.

3.Ask for repairs. Don't be shy. On existing homes, sellers may be willing to make major repairs (like replacing a leaky roof) to secure the sale. On foreclosures - ask anyway. All they can do is say no, and you may be surprised what the seller will fix or give a price reduction.
4.Offer 10 percent below asking price. First offers are usually slightly below the seller's asking price, but in a buyer's market, you can test a substantial price cut. Understand, however, that if the price has already been reduced, a deeper cut may not fly. With foreclosure check the date it was last reduced as the seller ususally does not consider a lower offer for at least a week.

5.Play the time card to your advantage. In your offer, stipulate a small time frame for the seller's response -- say, 24 hours -- to encourage acceptance, but demand ample time to conduct inspections, in our area that is usually 10 days. Lately banks have been trying to cut that time - but this is Michigan = we have snow, rain, tornados etc. to contend with. Be unbending for 10 days.
6.Ask for a written warranty. A year of coverage on appliances, structural repairs, and so on can prove extremely valuable. This may cost the seller between $300 - $500 but if it makes or breaks the deal they will sign on the dotted line. I have seen foreclosures allow this at times with a higher valued home.

7.Negotiate your closing date. Maybe a couple months of breathing room would help you -- you need more time to scrape together your down payment, you'd be better off moving after the kids finish the school year, etc. To seal the deal, a motivated seller may be willing to wait until you're ready to close. Unless it is a foreclosure, then be ready for 30 days only. But still ask for longer if you can.
8.Reject the counteroffer. A buyer's market is a good time to test where the true bottom line is because you're less likely to lose the sale. If the risk won't kill you, be firm on your offer and see what happens. (But don't insult the seller -- that benefits no one.)

9.Drive a hard bargain with your lender. House price isn't the only thing that's negotiable. In a slow market, lenders will bend for your business. Involve two or three in the negotiating process and ask for favorable terms: lower closing costs, lower interest rate, lender-paid private mortgage insurance, etc. The best deal wins.

Creating A Great First Impression With Curb Appeal

2011-03-09T16:14:00.000-05:00

Searching Create a Memorable First Impression through Successful Curb Appeal

By Al Heavens Print Article

RISMEDIA, March 9, 2011—(MCT)—Now that virtually all the winter’s snow has melted (in some areas of the country) and it’s easier to navigate the streets, let’s consider something calculated to get people slamming on the brakes: curb appeal, that special something that makes prospective buyers stop for a better look at a house for sale.

In normal market times, the National Association of REALTORS®, 49% of buying decisions are based on curb appeal. While we begin to understand and work through the “new normal,” curb appeal is still of major importance, especially with so many homes for sale.

In effect, curb appeal is “outdoor staging,” said Center City REALTOR® Joanne Davidow, of Prudential Fox & Roach. Even if the interior decor is Buckingham Palace-quality, no one will ever know if the place isn’t appealing from the street—because no one will ever ring the doorbell to see it. “You need to pay attention to the outside as well as the indoors,” she said.

Still, Marilou Buffum of Eichler & Moffly, Realtors in Philadelphia’s Chestnut Hill neighborhood, who concentrates on Northwest Philadelphia properties, cautioned that curb appeal “depends upon what a buyer is looking for.”

“If you have an urban-oriented buyer, a house with a lovely lawn isn’t high on the list,” Buffum said. “Clean windows, paint that isn’t peeling, an attractive front door, nice plantings, leaves raked and the freshly mowed lawn set the tone of what the buyer thinks the house should be.”

Late fall to early spring—right now, in other words—is the toughest time to make the view more pleasing. All the flowers, except perhaps pansies, are dead; all but the evergreen trees are leafless, and the grass is brown and sparse.

With short days and the sun at such a low point in the sky, the light that provides accent and focus to the appearance of a yard and house in spring and summer is temporarily unavailable.

There are challenges to curb appeal everywhere, no matter where you live. “The city is the best place to live, and I wouldn’t live anywhere else,” said Prudential Fox & Roach agent Jeff Block, who focuses on the Center City real estate market. “But city properties do deal with unique curb-appeal issues.

“One is simply windblown bags, wrappers and leaves,” he said. “You can sweep your sidewalk every day, but if the wind blows right before an appointment, the buyer doesn’t know that.”

Also affecting curb appeal may be the condition of neighboring houses. “We deal mostly with townhouses and twins,” Block said, “so sellers can point their brick, paint their door and trim and the house can look perfect. But it does not help if the attached house is beaten up.”

Said Buffum: “You have to look at your neighbor’s house when considering curb appeal. If there are issues, and you get along well with your neighbor, you might ask if they wouldn’t mind trimming hedges or cleaning their yards.” In some cases, sellers have even paid to have the house next door painted, she said. “Remember, you are selling your neighborhood, not just your house.”

Among the easier-to-fix curb-appeal issues are the weeds that pop up between pavers on sidewalks and patios, said Weichert Realtors agent Carolyn L. Sabatelli. Most plants and shrubs are still several weeks shy of bloom, “so color is at a premium” in late winter, said Sabatelli, who works out of Weichert’s Media office. “Bushes should be trimmed neatly, and plant beds should be trimmed out,” she said. “If driveways are asphalt, they should be nice and clean, and, if needed, another coat of blacktop applied.”

Think mulch, agents say. Fresh dark mulch adorning even barren landscapes gives them a warmer look.

Except for when a property cries out for professional help, boosting curb appeal does not have to be expensive, Buffum said. “A fresh coat of paint or windows washed and fixed don’t add up to much of an expense,” she said.

“Will you get the money back on your investment? Not necessarily, but you are making your house more appealing to buyers,” said Buffum. “It gives buyers the impression that you care.”

Some agents recommend having photos available that show how your house looks in other, more colorful seasons. In fact, Buffum and other agents make booklets of such pictures and leave them inside the house for prospective buyers to see.

But “I don’t think you should put those photographs in the MLS (Multiple Listing Service), because buyers will see right through it,” she said. “Not only that, but if it is winter and the photo of the house was taken in the spring, people will think the house has been lingering on the market for that long.”

(c) 2011, The Philadelphia Inquirer.

Distributed by McClatchy-Tribune Information Services

Turkey, turkey everywhere......

2010-11-23T12:57:00.000-05:00

I hope your family has a safe and blessed holiday.

http://www.eatturkey.com/foodsrv/recipes.html

Awesome web site with the most wonderful turkey - Thanksgiving recipes.

Below is a copy of the National Wild Turkey Federation's plans for the State of Michigan.

http://www.nwtf.org/NAWTMP/downloads/NAWTMP_Michigan.pdf

OPEN HOUSE TIPS FROM RISMEDIA - great ideas!

2010-05-20T11:53:00.000-04:00

Are you holding an open house in the near future? If so (and your agent has not told you), here are some great ideas to make your home more inviting to the buyer:

Holding an Open House? Offer Your Sellers These Tips

By Stephanie Andre
RISMEDIA, May 20, 2010—Have you prepared your clients for an open house? Do they know how to get their home ready? Here, we take a look at some essential open house tips—whether it’s winter or summer—that are sure to help your sellers make their home look the best it can.

Tour Your Home. Critique your house: examine it inside and out, and smell for offensive odors. Ask a trusted friend to join you. Make note of any quick fixes to be made.

Declutter and De-Personalize. To make rooms feel more spacious, remove excess and oversized furniture. Consider rearranging remaining furniture to visually expand rooms. Clean out and organize your closets, garage, cabinets and pantry. Also, remove or hide items like family photographs, knick-knacks and toiletries. Let potential buyers imagine the space as their own.

Bring in More Light. The brighter your home is, the larger it will seem. Wash your windows and screens to let in more light. Repair or replace dingy, torn or sagging screens. Use higher wattage light bulbs to make rooms brighter, especially in basements. When you hold your open house, be sure all lights are on, and all curtains are open.

Get Rid of Odors. Steam clean your carpeting and drapes to eliminate smoke and pet odors. Change your bed linens and towels regularly. Keep the windows open, and keep pets outside as much as possible. On the day of your open house, light a scented candle. You can also simmer apples, cloves and cinnamon on the stove an hour before prospective buyers arrive.

Clean, Clean, Clean. A house that is extra clean makes a powerful first impression. Don't forget to look in places you might otherwise ignore: smudges on light-switch plates or dust on baseboards. And give extra attention to your kitchen and bathrooms, since these are the most important rooms to buyers.

Expose Desirable Features. Show off your house's best qualities: beautiful hardwood floors, custom windows or an amazing view.

Sell with Neutral Colors. Neutral colors like beige or cream help sell your house, even though they may not fit your aesthetic sensibilities. Paint to sell.

Give the Exterior a Facelift. Boost curb appeal with clean gutters, mown lawn and swept walkway. Power wash siding, sidewalks, deck and driveway. Add potted plants – suitable to the season – to your entryway, deck or patio. Let us recommend the right plants for your project.

Summer Open House Tips

When preparing for a summertime open house, you'll want to go that extra mile with your home's exterior:

Accent Your Entryway. Buy a new light fixture, install a new lockset and kickplate, and buy new house numbers.

Keep Your Lawn Impeccable. This is no time for dandelions, brown patches or bare spots. Get your lawn looking its best. Also, add a fresh layer of mulch. Try our Mulch Calculator to see how much you'll need.

Install a New Mailbox. If your mailbox is old and faded, take the time to replace it.

Refresh Your Deck. Rejuvenate your deck furnishings, and add playful items like a bright umbrella or potted plants.

Winter Open House Tips

With its inclement weather and shorter days, winter isn't the ideal time for house hunting. Create a warm, inviting atmosphere to sell during the more frigid months.

Check the Heating System. Replace furnace filters, fill oil or propane tanks, clean registers and air ducts, check your home's ventilation, and arrange a chimney inspection.

Improve Energy Efficiency. Caulk windows and pipes. Add weather stripping around doors, and insulate your water heater and attic. Consider using heavier drapes or insulated shades to block drafts.

Winterize Your Home. Put away summer patio furnishings, grills and garden houses. Close your pool (if applicable), and shut off the outside water.
Keep Up with the Weather. Clear snow, mud and puddles from all walkways and driveways.

Warm Up Your Home. Schedule your open house for high-daylight hours. Set the temperature at a comfortable level. If you have a fireplace, light a fire. Add cinnamon sticks or cloves to the fire for a soothing aroma. Note: Never leave a burning fire unattended.

Adding That Finishing Touch

After making the necessary preparations for your open house, seal the deal with a few finishing touches.

Outdoors. Add a wind chime, birdbath or doormat to make your outdoor space more enticing.

Living Areas. Place fresh flowers in the living room and bedrooms, and softly play relaxing music during the open house.

Kitchen/Dining Room. In the kitchen, put out a bowl of citrus fruit. Run a sliced fresh lemon through the garbage disposal before the open house for a clean scent. Set the dining table with your favorite tablecloth and best china and crystal. And leave bottled water for your potential buyers.

Bed/Bath. Replace shower curtains and liners for a fresh look and that “new smell”. Put car wax on sinks and tubs to get a glossy sheen.

There are many things that can make an open house successful. Don't worry, your hard work will be noticed. Remember, it pays to help buyers envision the house as their home. For other selling tips, check out more articles in our Sell Your House section.
_____________________________________________________________________

I have heard of placing an open can of beer in the oven (on low) and it makes the house smell like you are baking bread :-) And that yellow flowers have been identified as being more welcoming at your door than any other - who did this study I have no idea, but I guess yellow always looks sunny, good for Michigan weather!

2010-05-12T09:42:00.000-04:00

Read this wonderful update published today in the DS News, it makes you want to take a deep breath and surge ahead -
Home Prices Rebound 1.1% after Seven Down Months: IAS

05/11/2010 By: Carrie Bay

The U.S. housing market is showing some signs of life, according to the default management and valuation firm Integrated Asset Services, LLC (IAS). The Denver-based company said Tuesday that its national benchmark for residential property prices gained 1.1 percent in March.
The increase follows seven straight months of declines recorded by the IAS360 House Price Index. With the modest rebound, IAS says its index is down 23.6 percent from the price peak of July 2007. March’s close leaves the benchmark at first-quarter 2004 levels.
Big monthly gains in two of the four U.S. census regions-3.2 percent in the Midwest and 2.5 percent in the South-accounted for the bulk of the monthly turnaround in March. The West did manage a slight 0.8 percent improvement, but the Northeast, mostly on weakness up and down the Washington-to-Boston corridor, slipped 0.4 percent.

“Any gain in the IAS360 is well-received, of course, but one month-over-month improvement is hardly evidence the national housing market is recovering,” said Dave

McCarthy, president and CEO of Integrated Asset Services. “In fact, our neighborhood trend lines indicate house prices have not found a bottom in many parts of the nation.”
IAS data confirms the nation’s major metropolitan statistical areas (MSAs) are indeed moving in different directions.
On the positive side, the three big California MSAs (San Francisco, Los Angeles, and San Diego), as well as Chicago and Miami all registered respectable gains in March. The San Diego metro posted the largest increase in IAS’ study, with prices there up 3.7 percent.
But on the other end of the scale, the metros of Boston, New York, and Las Vegas all lost ground. For its part, the Las Vegas MSA has now fallen without interruption since July of 2006, with prices there currently hovering around levels last seen at the end of 2000.

Meanwhile, the homebuyer tax credit, which offered up to $8,000 to first-time buyers and $6,500 to repeat buyers, expired at the end of April. While the actual stimulus effects of the two home purchase tax credits won’t be known for months, it would appear the programs contributed favorably to March’s activities. And since homebuyers have until June to close on properties under contract by April 31, the programs could end up influencing housing statistics for weeks to come.
“We can’t say for certain how much the federal support programs actually helped, but we do know housing demand will fall back a bit with their expiration,” McCarthy said. “I’m actually more concerned about the growing number of foreclosed houses adding to supply. I’m afraid the combination of these factors could pressure home prices in neighborhoods around the country for years.”

FHA 203K and AS IS.....

2010-05-11T19:54:00.000-04:00

Explaining the FHA 203K Program - AS IS What Does That Mean?

The word “as-is” can indeed be one scary phrase. Especially when buying a home in today’s market where foreclosures and short sales that need fix-up work are plentiful.
But a little-known Federal Housing Administration (FHA) loan program that’s been around since 1978 can help take the sting out of “as-is.” Only 219 borrowers took advantage of the FHA’s 203k program in 2009. Not that many lending and real estate professionals are aware of the program, say observers.
Last year, Tom Meyer found a classic Oakland, Calif., home built in 1925 near Mills College he liked a lot. As a short sale it was priced right and about half the original asking price. Trouble was, the place needed some fix-up work—foundation improvements, dry rot work, a new roof over the garage and other improvements.
With the help of the FHA’s 203k renovation financing loan program, Meyer folded about $100,000 worth of repairs and improvements into his $422,000 mortgage. He had bought the home for $320,000. “I would not be able to pay a contractor $100,000 and buy a house at the same time,” said Meyer, who works in corporate media at Shaklee’s Pleasanton headquarters. “It had been essentially allowed to start falling apart over the last 20 years.”

He had rented in San Francisco for 25 years before moving into his new digs last September with his girlfriend, Cathy Keating. “We like old houses, and a great benefit of this program is that it helped us keep a beautiful but deteriorating house from deteriorating further. With the work we did, we expect it to still be standing and beautiful 80 years from now,” he said.
Renovation financing through the 203k program allows the costs of needed repairs and improvements to be included in the FHA federally-insured loan amount instead of having the buyer come up with cash or a separate loan to do the work.

“This is a perfect loan for an as-is situation,” said Kristine Marr, a loan officer with Prospect Mortgage in Lafayette, Calif. “It’s not a new loan program, although I think it’s going to have a lot more use today because we have so many foreclosures and bank-owned properties. You go into lots of homes and see people have yanked out stoves and ovens and fixtures and sinks.”

The work has to be done within six months after escrow closes. Borrowers have the option of putting up to six months of mortgage payments on the end of the loan if they don’t want to live in the house while the work is being done.

“Renovation financing is a program that allows you to not only finance the purchase of a home but finance any repairs and/or improvements. It provides buyers with a responsible way to purchase a fixer-upper property,” said Luis C. Munoz, who helped Meyer with the loan and is a renovation loan specialist with the Oakland branch of Mason-McDuffie Mortgage Corp. Munoz also gives presentations about the program at monthly home ownership workshops sponsored by the Unity Council, an Oakland-based nonprofit.

At a time when equity loans are hard to get, the program can also be used as a refinancing vehicle for borrowers who want to do repairs and improvements, provided the value of the home is greater than the value of the loan. “At the same time as you refinance, you pop in the extra dollars you need for whatever you want to do,” Marr said.

FHA home loans require certain health and safety standards be met and that needed repairs identified during the inspection process be completed before escrow closes. However, minor repairs and improvements costing between $5,000 and $15,000 can be done after escrow closes for borrowers who opt for a streamlined repair program.

A 203k loan can help buyers finance both minor and major repairs and improvements. It can also help buyers compete with investors when bidding for short sales and foreclosures, said Sheri Powers, director of the Homeownership Center at Unity Council.

The loans can also be used to pay for improvements such as new appliances, second-story additions, remodeled kitchens and bathrooms, and skylights, just to name a few examples. “Property repairs cost money and they want to make sure people using their loan program are going to be in the home in long run and not just the short run,” Powers said.

The loans have become more popular since home prices started falling and FHA lending limits were raised a couple years ago but are still a tiny sliver of overall FHA loan volume. Last year, 203k loans accounted for 219 mortgages in the Bay Area, compared to 35 in 2008, one in 2007 and none in 2005 and 2006, according to Department of Housing and Urban Development statistics. “It’s making a comeback,” said Powers.

Marr said that 203k financing is not for everyone. A buyer will have to work with contractors and may have to wait several months before moving in, she said. And there is no guarantee they won’t be outbid by an investor for the property. “A lot of listing agents are preferring the investors, because the investors tend to be all cash or 50% cash. That’s always hard to compete with,” she said.
(c) 2010, Contra Costa Times (Walnut Creek, Calif.).
Distributed by McClatchy-Tribune Information Services.

Great information for anyone who is interested in that "fixer upper" but is not allowed to repair any items prior to closing. Ask your lender if you can possibly obtain an FHA 203K loan.

Seller Hints: Top 10 home updates that really pay off.......

2010-03-26T12:17:00.000-04:00

Check out this link for the best updates to do to your home in order to get the price you need in this down market. Are you competing with a huge amount of REO - foreclosure sales in your neighborhood? Make your home look like a place someone would love to live, not one they can't wait to escape from. http://www.frontdoor.com/Home-Finance/Top-10-Home-Updates-That-Pay-Off/55532/p1/?nl=FD_v118_PayUBack

How To Pay Off Your Mortgage Early

2007-04-15T18:20:00.000-04:00

Start it off right and make your first payment count. When you buy a home, many lenders require the first month's interest to be pre-paid as part of the closing cost, with the first actual payment to be due in the second month after closing. While you may be thrilled with not making a payment for a bit - you may choose to make your first payment in the initial month, and that ENTIRE amount will go to reducing the principal. If you make just this one payment at the start you will take off $7,394 in interest and reduce your payments by 6 months if you are purchasing a $200,000 house with a 30 year mortgage.

Get fixed. If you have more than 1 mortgage, a fixed and a variable, how about refinancing both into a fixed-rate? You will always know what to expect for a payment. But do not cash out any of your equity as you refinance, leave it alone and let it appreciate.

A faster paydown? How about paying every other week instead of once a month? If you do this you will end up making 13 payments a year instead of 12. If your mortgage company will not let you do this try it on your own. Along with your regular payment write a second check for on-twelfth of one payment and designate it "for principal only". Send the two checks together. Do this every month and in one year you will have made the equivalent of 13 monthly payments - with no fees, no obligations and no lender approval required. If you have a 30 year mortgage this strategy will drop about 7 years from you payback term!

Make it shine. While you have no control over housing market values, you can keep you home at the top of your neighborhood's value by performing routine repairs and maintenance. Even in a down market your home will be more likely to stay at the top of its class when it reflects your pride of ownership.

And keep paying it down. You may not plan on selling your home in 2 years, you may take up to 20. No matter when - your goal should be to come out with your original down payment, plus lots of equity for the next down payment. You want to use all of that money to make the largest down payment you can and take out the smallest mortgage possible. And you need to do that every time you buy. That is the way to build wealth on an ordinary home. Move your equity with you, just as you would your furniture.

How Much Mortgage Can You Afford?

2007-02-14T09:43:00.001-05:00

You can save yourself much time and frustration if you take a few minutes ahead of time to figure how much mortgage you can afford. Go to a reputable lender and they will help you determine your maximum mortgage amount by using guidelines called debt-to-income ratios. Simply put this is the percentage of your monthly gross income (before paycheck deductions and taxes) that is used to pay your monthly debts. Because there are 2 calculations, a "front" ratio and a "back" ratio, they are generally written in the following format: 33/38.

The front ratio is the percentage of your monthly gross income that is used to pay your housing costs, including principal, interest, taxes, insurance, mortgage insurance (when applicable). The back ratio is the same thing, only it also adds in all your other monthly debts. These can be credit card debt, car payments, installment loans, and other related expenses.

A really common debt-to-income ratio is 33/38. A person looking for a loan should not have housing costs exceeding more than 33% of their monthly income. Add you monthly additional debt to the housing costs, and it should take no more than 38% of your monthly income to meet these obligations.

Remember these are just guidelines and they can be flexible. If you make a small, or 0%, down payment, the guidelines are much more rigid. If you have questionable credit, the guidelines are more rigid. If you make a larger down payment or have a great credit score, the guidelines are less rigid. The guidelines also vary according to the loan program. FHA guidelines state that a 29/41 ratio is acceptable. VA guidelines do not have a front ratio at all, but the guideline for the back ratio is 41.

I can help you focus your attention on homes that are realistically within your budget. Better yet, I can help you find the hottest values as they come to market, so that you will get more for your hard earned money.

For more information, please go to my website: http://www.mymichiganhome.net/and read the section on "Your Credit Score".

Why Should I Stage My Home?

2007-02-04T22:49:00.000-05:00

Heard about "staging" your home? Check out this video on YouTube that will show you the importance of getting your home in order when listing. It would really help sell your home if you could do this before actually listing. Click here to watch.

Price Your Home Correctly To Sell

2007-02-01T16:54:00.000-05:00

Many sellers think there is nothing wrong with starting with a HIGH price on their new listing. They think they can always lower the price later. Problem is - by then it may be too late to attract a buyer for their home. The buyer's have bought a home that is priced properly.

Due to our local real estate market conditions, many more sellers are competing for way fewer buyers. So let me challange a long standing "myth" of real estate.

"The initial listing price isn't that important because the price can always be adjusted down later."

Many homeowners believe this.

It is a myth. You can not do this in today's market.

If most buyers first view your home due to a magazine, newspaper ad, the internet, or a sign in your yard, the initial listing price probably would not make a difference. The house would always be "new" to them.

But guess what? Most buyers do NOT come to your house because of advertising. That is another myth.

They may call on an ad, may LOOK at that house, but not always. Once they discuss your home with an agent, they may discover it is not what they need at all.

However, they ARE talking to an agent. That agent knows the current massive inventory of homes in the local area and will certainly be able to help them find a property that DOES fit their needs.

And those are the properties the buyers look at, and THIS is how most buyers end up looking at your house too. Only because of other agents - not because of your ad.

What can you do to help your home sell?

You need to get other agents interested in your property, and this is where your listing agent can help...and why a good listing agent is extremely important to you. The listing agent gets the buyer's agents looking at your home.

Buyer's agents are not swayed by advertising. They look at the needs of their client, what the client wants for location, condition, etc.

And most importantly...
...price.

If your home is overpriced, agents are going to show similar homes that are priced much closer to the actual market conditions. Your listing will get passed over.

Agents pay MOST attention to homes newly on the market. There are fewer NEW listings than current total listings. It is much easier to see what is NEW, compared to the vast number of current listings.

Introduction

2007-01-31T18:28:00.000-05:00

Let me introduce myself to you...my name is Shelley Simons and I am a Realtor in Kalamazoo, Michigan. This is my Blog in which I will share with you my life as a Realtor, a home owner, as well as any interesting tidbits I find regarding Real Estate.

First I would like to share some background information about me. I have lived in the Kalamazoo/Plainwell area for over 50 years (that gives away my age!) and I live with my husband on a farm that has been in his family since 1929. It was a "great buy" during the depression and they have had it ever since. We have 80 acres and though we rent out the cropland to a friend we enjoy the rest. My husband (Paul) is constantly enlarging our pond - I tease him that soon it will be called "Lake Simons". We have 2 children, Ashley and Sam. All four of us graduated from Plainwell High School and so far have stayed in the area. Ashley has followed my into real estate (she is my licensed assistant) and Sam is working on his degree in Automotive and Heavy Equipment Management.

I am an agent with Keller Williams Realty and work out of both the Kalamazoo and Plainwell office. I like to say I cover all of Southwest Michigan, I have listed and sold properties in Allegan, Kalamazoo, Calhoun, Barry and Van Buren counties. Besides selling real estate, I help my husband rehab properties. We have bought, fixed and sold 5 so far and do about 1 every 3 years. It is an interesting hobby - if it doesn't cause a divorce nothing will! It is such a thrill to start with a "dump" and end up producing a great home for someone.

We also enjoy antiquing, travel and my passion is knitting. It is a great relaxation for me and in the summer I garden. We have the original 1948 Chevy pickup that Paul's Grandmother gave Grandpa for his birthday - right off the lot in Plainwell. On our anniversary a few years ago Paul won a 1965 poppy red Mustang convertible at the Kruise International Car Show. What a present! We have fun taking the vehicles to car shows and just going for rides. Besides that I love animals. I would have my own petting zoo if I could.

This is me in a nutshell and I welcome you to make comments, ask questions,or share your own stories on my site. My goal is to help you get acquainted with me and Michigan real estate.